Help to Buy deadline brought forward
Since launching in 2013, the Help to Buy Equity Loan scheme has helped thousands of people to buy their first home.
However, it was announced last month that this popular scheme will stop accepting applications five months before it officially ends in March next year. The deadline for final applications is 6pm on 31st October 2022 and purchases must be completed by 31st March 2023.
Under the Help to Buy scheme, first-time buyers purchasing a new-build home can pay a deposit of just 5% of a property’s value. Buyers can also take an equity loan of up to 20% of the cost of a new-build home (up to 40% in London), which is interest-free for the first five years. Regional price caps range from just over £186k in North East England to £600k in London.
If you are a first-time buyer looking for a new-build home, there is still time to take advantage of the Help to Buy scheme.
Click to view the range of properties for sale in your area.
This article was originally published by BriefYourMarket and is reproduced here with their permission.
Will the property market slow down
The last few years have seen a sharp hike in house prices across the country, but can this rise be sustained? While recent data from the Land Registry shows house prices were up by 12% since April last year, some believe we’re heading towards a slowdown.
High demand forces rental prices to increase
Low supply and soaring demand fuel high prices for both the sales market and the private rental sector – a truth that makes itself felt by landlords and tenants.
UK house prices hit a record high
With inflation reaching 9%* and the cost-of-living crisis undermining consumer confidence across the board, it may be surprising that the average UK house price recently hit a record high.